Tuesday 22 June 2010

Euro$...Could we go higher?

I thought we were going higher..at least for the time being. But the Euro is struggling to get through the first RL in the green up sloping ML set but so far has failed to touch CL in the yellow fork. This may well give us an indication of future market direction either way. If price fails to get through this RL and comes back for a second try at the bottom RL & then we are more than likely going lower. It may also come down to struggle between the two RL's with price being channeled into the "V" shaped corner pocket....to break out in one direction.

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